Budget 2018

Laws and Policies

CCLW

CCLW national policies

Carbon Pricing Act 2018 (2020 Revised Edition)

Carbon Pricing Amendment Act 2022 

Budget 2022 amending tax rates

Law passed

Budget passed

Amendment Act Approved 

Amendment Act Entered into Force 

This law requires the reporting of and the payment of a tax in relation to greenhouse gas emissions, and amends the <a href="https://climate-laws.org/cclow/geographies/singapore/laws/energy-conservation-act-chapter-92c" target="_self">Energy Conservation Act</a>. The 2018 budget law stipulated that Singapore will impose a carbon tax entering into force in 2019. All facilities producing 25,000 tonnes or more of greenhouse gas emissions in a year will have to pay a carbon tax. The carbon tax will initially be S$5 per tonne of greenhouse gas emissions from 2019 to 2023. The Government will review the carbon tax rate by 2023, with plans to increase it to between S$10 and S$15 per tonne of emissions by 2030. The the 2022 budget, presented by the government in March 2022, considerably hikes these figures. The tax should be put at S$25 in 2024 and 2025, and S$45 in 2026 and 2027. The 2030 target now stands at between S$50 and S$80.
This Act was amended in 2022. The Carbon Pricing Amendment t Act introduces a progressive increase in carbon tax rates, sets up an International Carbon Credits (ICC) framework, and implements an industry transition framework allowing Emission-Intensive Trade-Exposed (EITE) sectors to receive transitory allowances. It further revises the list of greenhouse gases (GHG).&nbsp;&nbsp;

Carbon Pricing Act no 23/2018